DENSO Develops New Alternator for F1 Racing
DENSO Corp. has developed a new alternator for Formula 1 (F1) racing. The alternator will be installed in the new “TF105” F1 racecar of the Panasonic Toyota Racing F1 Team this season. DENSO joined the Panasonic Toyota Racing F1 Team as a corporate sponsor in 2004. Several DENSO products including spark plugs, a radiator and an oil cooler were used in last season’s Toyota F1 car, the “TF104.”
Transpro and Modine Aftermarket to Combine
Transpro and Modine Manufacturing have signed definitive agreements providing for the merger of Modine’s aftermarket business into Transpro as well as the acquisition of Transpro’s heavy duty OEM business. This action follows the letter of intent the two companies signed in late October 2004. The transaction will create a publicly-traded company focused on supplying heating and cooling components and systems to the automotive and heavy-duty aftermarkets, primarily in North and Central America and Europe.
Delphi Plans More Job Cuts
Delphi Corp. said Friday it plans to cut 8,500 jobs, or 4.6 percent of its workforce, worldwide next year as part of an ongoing restructuring. The world’s largest automotive-parts supplier also expects to lose $350 million as it struggles with lower vehicle production and rising commodity prices. The Troy, Mich.-based company had a similar goal for global job reductions in 2004 and exceeded it through attrition, retirements and job transfers. In the first nine months of 2004, Delphi trimmed between 9,100 and 9,200 jobs, spokeswoman Claudia Baucus said.
MACS 25th Anniversary Convention Gets Support from Record Number of Sponsors
“NOW IS THE TIME!” — the 25th Anniversary Convention and Trade Show of the Mobile Air Conditioning Society (MACS) Worldwide is getting support from a record number of corporate sponsors. Forty sponsors have signed up for the show, which will take place February 1-3, 2005 at the Las Vegas Hilton.
SPX Service Solutions Acquires AutoXray
SPX Corp. announced yesterday that its Service Solutions business has acquired Tempe, Arizona-based AutoXray, Inc., which designs automotive diagnostic test equipment and instrumentation marketed to professional technicians and retailers.
Transpro and Modine to Form New Company
Transpro has signed a letter of intent with Modine Manufacturing Co. setting the terms for a proposed merger of Modine’s aftermarket business into Transpro. The proposed merger would be an all-stock transaction to form a new company.
Behr America Expands Production at Dayton, Ohio, Facility
Behr America has completed the first phase of a multi-million-dollar expansion plan in Dayton, Ohio, which has the company taking full ownership of Behr Dayton Thermal Products. Previously, Behr Dayton Thermal Products was co-owned by Behr America and DaimlerChrysler Corp., a joint venture that lasted two years. Behr America, a subsidiary of German company Behr GmbH & Co. KG, supplies engine-cooling and air-conditioning systems to the automotive industry.
Appearance Accessories Capture More of Market
Over the past eight years, appearance/body accessory products have shown the largest growth of any product group in the industry, increasing 96.4 percent. Following closely is custom wheels, with performance chemicals in third place.
New Mobile Air Conditioning Climate Protection Goal Announced
In conjunction with Earth Day yesterday, a new partnership agreement between select members of industry, government and environmental advocacy organizations was announced. The new collaborative effort will work to increase energy efficiency and reduce greenhouse gas emissions from the operation of motor vehicle air conditioning (A/C) systems.
APC Announces Winners of NASCAR NEXTEL Cup Ticket Drawing
During each of the five A/C seminars that Automotive Cooling Products hosted this year, a pair of tickets to the August 12 NASCAR Nextel Cup race at the Michigan International Speedway were given away. Each winner received a pair of tickets to the race and two nights of lodging.